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Balance transfer credit cards can help you pay down high-interest debt by offering an introductory 0% annual percentage rate (APR) for a set period of time, usually between 12 and 21 months. But not all cards that offer balance transfers are created equal, so it's important to consider your priorities and each card's features to determine the best fit for you.
To help you start your search, here are our top picks for the best balance transfer credit cards.
2 Partner Offers
| Our Picks for the Best Balance Transfer Credit Cards | |
|---|---|
 Wells Fargo Reflect® Card | 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers Intro APR extension for 3 months with on-time minimum payments during the intro period 17.74%, 24.24%, or 29.49% Variable APR after intro period Balance transfers made within 120 days qualify for the intro rate and fee of 5% then a balance transfer fee of up to 5% ($5 minimum) |
 Wells Fargo Active Cash® Card | 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers 19.74%, 24.74%, or 29.74% Variable APR after intro period Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5% ($5 minimum) |
Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card offers an impressive 0% intro APR on both balance transfers and new purchases for up to 21 months—just be sure to make your payments on time to maximize the promotional period. Once the intro period ends, the card's 17.74%, 24.24%, or 29.49% Variable APR kicks in.
To get the 0% intro APR rate, request your balance transfer within 120 days of opening the account. Also, note that there's an introductory balance transfer fee of 5% of the transfer amount for the first 120 days, then a 5% fee after that ($5 minimum).
Unlike the other cards on our list, this one doesn't offer a welcome bonus or ongoing rewards, making it a solid choice if your primary goal is debt payoff. The longer intro APR promotion also makes it worth considering for larger balances that may take a while to pay off. The card also has no annual fee and offers cellphone protection and access to cash back with select merchants through My Wells Fargo Deals.
Wells Fargo Reflect® Card
APR
17.74%, 24.24%, or 29.49% Variable APR
Intro APR
Rewards
None
Intro Bonus
N/A
Annual Fee
$0
Card Details
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.74%, 24.24%, or 29.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
- $0 Annual Fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
Wells Fargo Active Cash® Card
Another cash back credit card, the Wells Fargo Active Cash® Card can be an excellent choice to pay down debt and earn a high rewards rate on every purchase you make going forward. The card's 0% intro APR lasts for 12 months for both purchases and balance transfers. After that, there's a 19.74%, 24.74%, or 29.74% Variable APR.
Like the Wells Fargo Reflect® Card, you'll need to request the transfer within 120 days of account opening, and there's an introductory 3% balance transfer fee during that time, which switches to 5% afterward ($5 minimum).
The card also offers a $200 bonus when you spend $500 in purchases in the first 3 months, plus 2% cash back on every purchase you make. The card has no annual fee and also offers cellphone protection and access to My Wells Fargo Deals.
Wells Fargo Active Cash® Card
on Wells Fargo's website
Recommended FICO® Score*
Wells Fargo Active Cash® Card
APR
19.74%, 24.74%, or 29.74% Variable APR
Intro APR
Rewards
Earn unlimited 2% cash rewards on purchases.
Intro Bonus
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Card Details
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.74%, 24.74%, or 29.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Frequently Asked Questions
What Credit Score Do I Need for a Balance Transfer Credit Card?
You generally need good or excellent credit to qualify for a balance transfer credit card. According to FICO, this means having a credit score of 670 or higher.
However, credit card companies look at more than just your credit score to determine your eligibility, so meeting the minimum doesn't guarantee approval. Card issuers may also consider your credit history, income, existing available credit and other factors to determine whether you qualify.
It may be possible to get a credit card with a balance transfer promotion with fair credit, but it may not be a 0% APR, and you may also end up with a shorter promotion and a higher fee.
What You Should Know About Balance Transfers
On the surface, balance transfers appear to be straightforward, but there are some key terms and conditions you'll want to understand before you apply for a card, so you know what to look for:
- You don't have to worry about retroactive interest. Some retailers offer promotional financing that requires you to pay off the balance in full before the promotion ends. If you don't, you'll be charged interest retroactively based on the original balance. Fortunately, that's not the case with balance transfer promotions. If you have a balance at the end of the promotional period, the card's regular APR will apply only to the remaining amount.
- You can only transfer between different issuers. If you have a credit card with one card issuer, you won't be able to transfer your balance to another card offered by that same issuer.
- There's a transfer window. Balance transfer credit cards often require you to request a transfer within a certain period after you open the account. If you miss the window, you may not get the 0% APR benefit.
- Balance transfer fees can eat into your savings. Balance transfer fees, which are usually added to your new balance, typically range from 3% to 5% of the transfer amount. If you're considering a balance transfer card, check the fee and use an online balance transfer calculator to get an idea of whether the interest savings outpace the upfront fee enough to make it worth your while.
- Your transfers may be limited. You can typically only transfer up to the credit limit on your new card, which won't be revealed until you apply and get approved. Additionally, some cards may set a hard limit for transfers regardless of the credit limit you qualify for.
- You may not get a grace period on purchases. While our top choices offer intro 0% APR promotions on both purchases and balance transfers, that's not always the case. If you have a card that only offers an intro 0% APR on balance transfers, you may not get a grace period on any purchases you make with the card. In other words, interest will start accruing from the date of your transaction until you've paid off the balance transfer.
How to Choose a Balance Transfer Card
To ensure that you get the best deal available, it's important to shop around and compare options from multiple credit card issuers. Here are some factors to consider as you narrow down your choices:
- Length of promotion: If you have a lot of debt, prioritize cards with longer promotions. If you can afford to pay it off in a shorter time, though, you may have more flexibility with other card features.
- Long-term goals: Some of the best balance transfer credit cards don't offer rewards, so once you pay off your debt, you may not get much value from the card going forward. If you want a card that offers long-term value, consider other features, such as rewards, travel perks and more.
- Costs: Compare each card's balance transfer fee and how much that'll cost you based on how much you want to transfer. If you're unsure whether you can pay off the debt before the promotional period ends, also compare ongoing APRs.
- Credit score: You may need good or excellent credit to get approved for a balance transfer credit card, so check your credit score to see where you stand and gauge your approval odds for the cards you're considering.
How to Complete a Balance Transfer
Once you've decided on the card you want to use, the process for requesting a balance transfer can vary depending on the card's issuer. That said, there are some general guidelines that can help you know what to expect.
- During the application process: If the option is available during the application process, review the terms and enter the card number of the card you want to pay off and how much.
- Online or via phone: Once you've been approved, you can call the number on the back of your card after you receive it or log in to your online account or mobile app. Share the card number of the account you want to pay off and the amount, then agree to the terms and conditions.
- Balance transfer checks: Some credit card companies may send you physical checks tied to your account that you can use to pay down debt and for other purposes. You can make the check payable to your other credit card issuer or even to yourself, depositing the money into your bank account, then paying off the debt.
It's important to note that balance transfers can take anywhere from a few days to several weeks to complete. As such, it's crucial that you continue making at least the minimum payment on your original card until you've confirmed that the balance has been moved to the new card.
Get Matched With Balance Transfer Offers
Even if your credit score technically meets a credit card issuer's requirement, it can be difficult to know what your approval odds are. With Experian CreditMatch™, you can get matched with credit card offers based on your credit profile, giving you more confidence when you're ready to submit an application.
If your credit score isn't in good enough shape, take steps to improve your credit so that you can get approved in the future. Monitor your credit regularly to track your progress and make adjustments to your plan as needed.